New Bitcoin whales recorded $1 billion in losses.

Major investors who bought the first cryptocurrency at prices around $110,800 have begun booking losses en masse, according to CryptoQuant analysts.

New Whales Are Feeling the Heat

Since Oct 28, Bitcoin has traded below the average cost basis of new whales (~$110.8K), triggering significant realized losses:

Nov 4: -$286.4M
Nov 5: -$90.7M
Nov 6: -$107.5M
Nov 7: -$515.1M
Nov 8: -$5.1M

The lower Bitcoin prices are building… pic.twitter.com/1pnlY9aBM2

— CryptoQuant.com (@cryptoquant_com) November 10, 2025

Since October 28, Bitcoin has been trading below the average acquisition price for a new cohort of whales. This triggered a wave of profit-taking that peaked on November 7 (-$515.1 million).

In total, from November 4 to 8, they lost over $1 billion.

Experts also previously recorded record activity among long-term Bitcoin investors, who are transferring huge amounts of cryptocurrency to exchanges. However, they noted that the selling pressure is being offset by new buyers who continue to hold their positions.

Death Cross

The price of digital gold fell to $105,000 after recovering to levels around $107,300. According to analysts at CoinDesk, the attempted rally and subsequent decline reinforced the significance of the earlier bearish breakout.

They stressed that the current dynamics have exacerbated concerns around the formation of a “death cross” – a bearish pattern in which the 50-day moving average falls below the 200-day one.

To reverse the negative scenario, the leading cryptocurrency needs a confident breakout above $107,250, experts emphasized.

A trader nicknamed Sykodelic believes Bitcoin will hit a local bottom in the next five days. His analysis is based on “death cross” data over the past seven years, beginning with the 2017 bull run.

Bitcoin is going to rally to at least $145,000 from here.

And there is a 99% chance it will find at least its local bottom in the next 5 days.

And this is based off of the last 7 years worth of Death cross data since the beginning of the 2017 bull run.

This is hard data, not… pic.twitter.com/yzmQDw3Oqa

— Sykodelic 🔪 (@Sykodelic_) November 10, 2025

Each bearish pattern has been followed by a rise of at least 45% from the low. If digital gold follows its historical trend, a rally to $145,000 awaits after reaching a local bottom, the expert believes.

Despite the pressure, conditions for potential growth are emerging in the market. CryptoQuant analyst MorenoDV_ noted the emergence of a rare liquidity configuration, which has previously preceded significant price movements in Bitcoin.

Liquidity Pattern Has Appeared Before Every Bitcoin Surge — And It's Back

“We're witnessing a liquidity configuration that has only appeared a handful of times since 2020, and each instance marked a pivotal moment for Bitcoin's trajectory.” – By @MorenoDV_ pic.twitter.com/vWKcCkyn55

— CryptoQuant.com (@cryptoquant_com) November 11, 2025

According to him, a similar situation has only been observed a few times since 2020.

The SSR index has returned to its lower historical range at 13, the same zone where local lows formed in mid-2021 and throughout 2024.

“Each time, Bitcoin traded calmly before making a powerful leap,” the expert noted.

A characteristic pattern is observed on Binance: stablecoin reserves are growing, while digital gold reserves are declining. This dynamic has repeatedly preceded market recoveries, indicating the exhaustion of sellers and the accumulation of positions by strong players, MorenoDV_ emphasized.

Macroeconomic support

Experts at the Bitget exchange believe that the combination of the Fed's accommodative policy and growing institutional demand is laying the foundation for significant growth in Bitcoin. They predict movement in the $90,000-$160,000 range over the next six months.

In the medium term, experts predict a rally in the first cryptocurrency to $120,000-350,000.

“We remain positive on Bitcoin, despite short-term market fluctuations. Growing interest from traditional capital and the influx of funds into crypto ETFs are creating robust demand, which has already become a key driver for the entire sector,” Ryan Lee, chief analyst at Bitget Research, told ForkLog.

The expansion of stablecoin supply and the net inflow into Bitcoin ETFs confirm the market's transition to a more mature phase. Demand is increasingly driven by fundamental investor confidence rather than speculation.

The Federal Reserve's decision on its key interest rate at its December meeting could cause fluctuations. The situation surrounding Stream Finance and the decline in the US stock market could also put pressure on digital assets.